Wall Street bounces back as investors shrug off trade tensions
Updated : September 19, 2018 06:25 AM IST
Late Monday, US President Donald Trump announced that 10 percent tariffs on $200 billion in imports from China would go into effect next week, escalating the tit-for-tat trade spat between the world's two largest economies.
Tech stocks were bolstered by news that Apple Inc and fitness gadget-maker Fitbit Inc would escape the tariffs. Apple shares closed up 0.2 percent while Fitbit shares rose 6.4 percent.
The energy sector advanced 0.7 percent as crude prices rose on signs that OPEC is not prepared to boost output to address shrinking supplies from Iran.
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